Requirement for Growing a Branch Store [THA 205] - a podcast by Carm Capriotto, AAP

https://youtu.be/oiGN2tw68h0
Greg Bunch is the owner of Aspen Auto Clinic, a five-location automotive and service business in Colorado. Greg started his passion for cars at 15 when he began rebuilding a 1966 Volkswagen Bug. Greg has moved from a Volkswagen mechanic to ASE Master Technician, to Management, to starting his shop 18 years ago in his garage, to an award-winning multi-location business.Greg is currently a board member for the STEM-based charter school call “Automotive Institute of Science& Technology” and on the Advisory board of Ratchet and Wrench Magazine. Greg is also a board member of the Autocare organization and a certified instructor for the Worldpac Training Institute and Carquest Technical Institute. Greg’s unwavering passion for the industry has also led him to form a company called Transformers Institute, a coaching and training company dedicated to transforming the automotive industry.
Listen to Greg’s previous episodes https://remarkableresults.biz/?s=Greg+Bunch (HERE). Transformers Institute https://www.transformersinstitute.com/ (HERE).
Austin Miller. Tire Star opened the doors in 2011 in the back part of a grain elevator warehouse. Austin Miller started the business with the goal of providing trustworthy automotive repair at a fair price and timely manner. Since then Tire Star has grown to 3 locations and 40+ employees. This growth was made possible by employees willing to go the extra mile to provide a great customer experience. Austin is an ASE L1 Master Certified Technician and has received an ASE technician of the year award. Although he is not turning a wrench most days Austin is still very involved in learning about new technology and ensuring his staff gets the training they need to be successful. Listen to Austin’s previous episodes https://remarkableresults.biz/?s=Austin+Miller (HERE).John Manelas and wife, Karen Manelas,purchased their first location in April 2004. They expanded into their 2nd location in 2011. They bought out a former 20 group member in Maine in 2013 as their 3rd location. They purchased a former Chevy/Chrysler 14 bay dealership in 2014. In 2016, they purchased an import auto service business and converted it to an Auto Care Plus (store #5). In 2017, they purchased a Volvo Specialty Repair Shop which they decided to then re-brand and create a new brand for us calling it Euro Care Plus. In 2019, we did our first non-acquisition “build to suit” venture erecting an 8 bay facility with upstairs offices for their Corporate headquarters. They also decided to lease the rest of that building where we are preparing to open a Hybrid/EV specialty division to be named Electrified Auto Care. They now have 7 locations (5 of which they own the dirt). 6 Locations in NH and one in ME. Listen to John’s previous episodes https://remarkableresults.biz/?s=John+Manelas (HERE).
Key Talking Points:I think I’m successful, I think I wanna grow, but am I ready for this?Not for money, not for ego, but for a challenge
Personal reasons for whySome peoples why is to build wealthThe challenge of it
People are only happy when they are growingPrivate equity
Add another location to justify the management teamGoing from 2 to 3 locations made you focus in on your processDay you realized to lock your processes downEstablish SOPs
Use other people’smoney to expandBuild to suit
Pay it back in a lease arrangementLean towards acquisitions
Newer growing areas are better for build to suitOwn the dirt whenever possible
The creativity of doing a dealYou do need capital not just the paperLeverage other people’s money to make it happen
What Covid has done to our industryAbsorption is an optionIf you’re gonna grow and acquire, you have to have the right peopleNot everyone fits your model
Not every size fits your modelAnticipate losing 10% of customer base
Anticipate losing 90% of your employeesDuring an acquisitionBuild an avatar of what the perfect...

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